Record price is possible if wheat crop shrinks more

Farm-gate wheat prices could average a record $8.75/bushel if bad weather further reduces the U.S. wheat crop and draws down stockpiles, says economist Dan O’Brien of Kansas State University. Stocks peaked at 976 million bushels in 2010 and have fallen annually ever since. O’Brien assigns a 25 percent probability to a crop of 1.739 billion bushels due… » Read More

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